Infrastructure Development Finance Company (IDFC) is seeking to form a joint venture with Malaysian sovereign wealth fund Khazanah Nasional Berhad, The Wall Street Journal reports. The venture will invest in road projects in India.
IDFC will initially hold a 19.9% stake in the venture, while Khazanah will own the remaining 80.1% stake. Khazanah currently has stakes in over 50 companies, with assets valued in excess of $35 billion, adds Business Standard.
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